Hellenic Telecommunications Or (OTE)

Hellenic Telecommunications Organization S.A., together with its subsidiaries, provides telecommunications and related services to residential and small business customers in Greece, Albania, Bulgaria, and Romania. The company provides fixed-line voice telephony, Internet access services, and mobile telecommunications services. Its services include local, long-distance, and international fixed-line telecommunications services; and integrated IP-based telecommunications solutions, as well as other telecommunications services, including value-added services, IN services, IT application development and IP-based hosting services, leased lines, public telephone services, operator assistance services, sale of equipment, directory services, and satellite telecommunications services. In addition, the company offers telecommunications services on a wholesale basis to other telecommunications providers and ISPs in Greece, including wholesale ADSL access services, interconnection services, leased lines, data telecommunications services, and local loop unbundling services. Further, it provides maritime telecommunications, e-commerce, financing, consulting, real estate, insurance brokerage, training, marketing, and retail services. The company sells its products and services through its network of proprietary shops under OTEShops brand name, as well as through its external sales advisors and electronic channel, www.oteshop.gr; and through other retailers and distributors. As of December 31, 2008, it owned and operated an OTEShop retail network of 228 outlets in Greece, including 19 franchised outlets; installed approximately 26,049 kilometers of fiber optic cable; and had 4,110,102 PSTN lines, 548,388 ISDN BRA lines, and 5,971 ISDN PRA lines in service. The company offered broadband services to approximately 864,021 retail and 94,413 wholesale customers in Greece. Hellenic Telecommunications Organization S.A. was founded in 1949 and is headquartered in Athens, Greece.

For the nine months ended 30 September 2006, Hellenic Telecommunications S.A revenues increased 6% to EUR4.3B. Net income totaled EUR445.5M vs. a loss of EUR296.7M. Revenues reflect improved performance of OTE and Cosmote segments of the Group. Net income reflects an increase in operating margins, decreased payroll & employee benefits, the absence of voluntary retirement costs and presence of reversal of fixed asset impairment and extinguishments of liabilities.